The board of directors of Huabang Technology Holdings Limited announced that Mr. Liu Qiaosong ("Mr. Liu") has resigned as an executive director and vice-chairman of the Company, with effect from 6 December 2022 to devote more time to his other work commitments. Mr. Liu remains as a director in each of Huabang Securities Limited, Goldenmars Technology (Hong Kong) Limited, Great Success Global Investments Limited and Golden Profit Global Trading Limited, wholly-owned subsidiaries of the Company. Mr. Liu confirmed that he has no disagreement with the Board and there is no other matter relating to his resignation that need to be brought to the attention of the shareholders of the Company.

The Board also announces that with effect from 6 December 2022: Mr. Liu has ceased to be a member in each of the remuneration committee, the nomination committee and the corporate governance committee and the chairman of the corporate governance committee of the Company; Mr. Qu Hongqing, an executive director of the Company, has been appointed as a member in each of the remuneration committee and the nomination committee and the chairman of the corporate governance committee of the Company; and Mr. Li Huaqiang, an independent non-executive director of the Company has been appointed as a member of the corporate governance committee of the Company. The Board will nominate suitable candidate to act as the chairman of the Board as soon as practicable and will make necessary announcement as and when appropriate. Mr. Qu Hongqing will assume the duties of chairman of the Board temporarily until a new chairman has been elected.